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Marc Hedlund

marc@iheartexit.com +1(701) 730-4440

$699,900

Est. payment - /mo

6,838 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Amended

MLS Listing ID 6821093

Year Built 1890

Annual Tax Amount $9,690

Tax Year 2026

Contingent None

Lot Size 6,838 Sqft

Lot Dimensions 44 x 155

Property Description

Opportunity knocks with this three-story eight unit mixed-use building for sale. The property is located in the central business district in downtown Saint Peter, Minnesota. Historical occupancy is strong as it stays full all the time. The main floor features two larger retail and/or office spaces and currently has long term leases in place. The second and third floors offer six loft style apartments with tall ceiling heights and some exposed original brick. The exterior is all brick and has received all newer windows and the main floor commercial tenants have newer black awnings. There is a parking lot in the back alley for residential tenants and also an attached garage on the back side of the main floor commercial units. The lower level is used for storage but could be an opportunity for additional income with your ideas. Each commercial tenant pays for their own utilities including extra for trash. The residents upstairs are responsible for paying their own unit electric utilities and the owner pays for the boiler heat, water, sewer and trash. The current in-place cap rate is 10.13% with a net operating income of $70,890. A new owner has room to improve cash flow by raising rents organically over the next 1-2 years in a non rent controlled city on Minnesota. Call to get more financials and information.

Location

State MN

County Nicollet

Zoning Business/Commercial,Residential-Multi-Family

Rooms

Basement Full

Interior

Heating Boiler, Forced Air

Cooling Central Air, Window Unit(s)

Flooring Wood

Inclusions Building, Land, Leases, Rental License

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features Attached Garage, Parking Lot

Garage Spaces 2.0

Fence None

Pool None

Utilities Available Electric Separate, Heating Common, Heating Separate, Hot Water Common

Roof Type Age Over 8 Years,Flat

Present Use Commercial,Residential

Building

Story Three Or More

Foundation 3200

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick,Stone

New Construction false

Schools

School District St. Peter

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Listed by Nathan Opatz • Apartment Cash Flow, Inc.

Nearby School & Business

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Marc Hedlund

+1(701) 730-4440

Broker License ID: 40339406

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216 S Minnesota AVE Saint Peter, MN 56082

Marc Hedlund

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Nearby School & Business

Get More Information